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Aug. 27, 2021, 2:01 p.m. EDT

Gold futures settle back above $1,800, up 2% for the week

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    Gold Dec 2021 (GCZ21)

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By Myra P. Saefong

GCZ21

Gold futures climbed back above $1,800 an ounce on Friday, settling up 2% for the week. At the Jackson Hole central-bankers symposium, Federal Reserve Chairman Jerome Powell "didn't hard-line a taper timeline," said Adam Koos, president at Libertas Wealth Management Group. "While there are still supportive fundamentals at play here, short-term [gold] prices are likely rising on hope that the timeline will be tempered." The gold market didn't learn anything from Powell's remarks that it didn't already know so for that reason, "gold is breathing a sigh of relief into the weekend," said Koos. December gold /zigman2/quotes/210039437/delayed GCZ21 -0.33% rose $24.30, or nearly 1.4%, to settle at $1,819.50 an ounce.

/zigman2/quotes/210039437/delayed
US : U.S.: Nymex
$ 1,775.80
-5.80 -0.33%
Volume: 73.00
Dec. 1, 2021 11:30p
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